Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis

The following tables provide a summary of the significant assets and liabilities that are measured at fair value on a recurring basis at the end of each period:



	June 30, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	32.6	$	21.5	$	11.1	$	—
Equity securities	31.9		31.9		—		—
Foreign exchange forward and option contracts	0.6		0.6		—		—
	$	65.1	$	54.0	$	11.1	$	—

Liabilities:
Deferred compensation liabilities	$	35.1	$	—	$	35.1	$	—
Contingent consideration and acquired contingent liabilities	228.4		—		—		228.4
Foreign exchange forward and option contracts	0.3		0.3		—		—
	$	263.8	$	0.3	$	35.1	$	228.4



	December 30, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Debt and equity securities held in rabbi trusts	$	33.6	$	22.8	$	10.8	$	—
Foreign exchange forward and option contracts	0.7		0.7		—		—
	$	34.3	$	23.5	$	10.8	$	—

Liabilities:
Deferred compensation liabilities	$	32.5	$	—	$	32.5	$	—
Contingent consideration and acquired contingent liabilities	250.5		—		—		250.5
Foreign exchange forward and option contracts	3.4		3.4		—		—
	$	286.4	$	3.4	$	32.5	$	250.5

Schedule of Reconciliation of Changes in Fair Value of Contingent Liabilities

The following table provides a summary of the changes in the Company's contingent consideration and acquired contingent liabilities:



Balance at December 30, 2016	$	250.5
Payments	(25.0		)
Accretion expense	2.7
Fair value adjustment	0.2
Balance at June 30, 2017	$	228.4

Schedule of Carrying Amount and Fair Value of Long-term Debt

The following table presents the carrying values and estimated fair values of the Company's long-term debt, excluding capital leases, as of the end of each period:



	June 30, 2017				December 30, 2016
	Carrying Value		Fair Value		Carrying Value		Fair Value
Variable-rate receivable securitization	$	200.0	$	200.0	$	250.0	$	250.0
3.50% notes due April 2018	300.0		300.0		300.0		298.7
4.875% notes due April 2020	700.0		681.9		700.0		699.5
Term loans due March 2021	—		—		1,948.5		1,953.2
4.00% term loan due February 2022	6.3		6.3		6.5		6.5
9.50% debentures due May 2022	10.4		11.5		10.4		12.0
5.75% notes due August 2022	884.0		830.8		884.0		850.3
8.00% debentures due March 2023	4.4		4.7		4.4		4.9
4.75% notes due April 2023	541.5		461.8		600.0		520.9
5.625% notes due October 2023	738.0		674.6		738.0		682.4
Term loan due September 2024	1,860.4		1,855.4		—		—
5.50% notes due April 2025	692.1		604.0		695.0		615.7
Revolving credit facility	—		—		100.0		100.0

Schedules of Concentration of Risk

The following table shows net sales attributable to distributors that accounted for 10% or more of the Company's total net sales:



	Three Months Ended				Six Months Ended
	June 30, 2017		June 24, 2016		June 30, 2017		June 24, 2016
CuraScript, Inc.	43	%	38	%	39	%	36	%
McKesson Corporation	8	%	7	%	9	%	10	%

The following table shows accounts receivable attributable to distributors that accounted for 10% or more of the Company's gross accounts receivable at the end of each period:



	June 30, 2017		December 30, 2016
McKesson Corporation	26	%	28	%
Amerisource Bergen Corporation	15	%	15	%
CuraScript, Inc.	18	%	15	%
Cardinal Health, Inc.	9	%	10	%

The following table shows net sales attributable to products that accounted for 10% or more of the Company's total net sales:



	Three Months Ended				Six Months Ended
	June 30, 2017		June 24, 2016		June 30, 2017		June 24, 2016
Acthar	39	%	34	%	36	%	33	%
Inomax	15	%	14	%	16	%	14	%